Seeking to capitalize on “opportunities that take advantage of the integrated operations of SFX and the radio, television, outdoor and interactive businesses owned by SFX parent company Clear Channel Communications” Clear Channel has named former president of SFX.com and SFX Multimedia, Steve Smith as executive vice president of SFX's executive management team.
Smith will foster collaboration between SFX and Clear Channel on an executive level.
Heralded as a critical move in maximizing cooperative efforts between SFX and Clear Channel, the announcement also serves to underscore the daunting challenges involved with mobilizing such large groups and keeping them apprised of each other.
Smith’s team “will organize Clear Channel-exclusive integrated marketing opportunities for artists touring with SFX, create new diversified entertainment events, open new markets for SFX across all of its business units, formulate brand strategies for SFX intellectual properties, and improve operations efficiency by demonstrating innovative uses of internal resources. “
SFX was acquired by Clear Channel on Aug. 1, 2000. Clear Channel has also purchased radio broadcaster AMFM. The company now operates 1,096 radio and 19 television stations in the United States and has equity interests in over 240 radio stations internationally. Clear Channel also operates more than 750,000 outdoor advertising displays, including billboards, street furniture and transit panels across the world. After an aggressive acquisitions campaign in sports and entertainment, SFX Entertainment established an early lead in marketing “live experiential” events. SFX develops and manages touring Broadway shows, and sells Broadway subscription series and individual productions in 55 markets. An integrated franchise that promotes and produces a broad variety of live entertainment events locally, regionally and nationally, SFX has 122 venues overall, and owns or operates venues in 31 of the top 50 domestic markets.
—By Murdoch McBride